Alexandria, VA (July 30, 2002) -  PS Hospitality, a pioneering hotel revenue generation services company, today announced it is providing revenue generation and optimization services to The Buckingham Hotel, a 70-suite corporate and extended-stay property in New York City. Under the agreement, PS Hospitality will implement its Driving Revenue Program, a series of integrated hotel sales and marketing programs and processes including GDS and Internet Marketing, Revenue Optimization, and Internet Hosting services.

Compared to New York City's 2000 hotel occupancy rate of 84.6%, New York hotels have a projected 2002 occupancy rate of just 68.5%, according to PKF Consulting*. General managers and hotel operators are looking for new strategies and tools to help battle the downturn, so they can increase occupancy and maximize room rates. PS Hospitality services such as the Driving Revenue Program being deployed at the Buckingham can generate an average increase in hotel revenue of up to 7%.

"In the past year, it has been difficult for many New York properties to restore their occupancy rates back to previous levels," said Lisa Grossberg, General Manager, for The Buckingham Hotel. "We selected PS Hospitality to help us rebuild because of their expertise in driving revenue through the GDS and the Internet. They know how to represent my property to generate online business." 

"We are excited about the opportunity to work with The Buckingham Hotel," said Phillip Saims, President of PS Hospitality.  "The property offers a unique product with a convenient location -- we look forward to helping facilitate the Buckingham's plans for growth during the remainder of the year and into 2003."

PS Hospitality provides integrated sales and marketing plans designed to boost revenue through all booking channels.  They work with hotels to create effective, short-term sales recovery plans to regain market share or develop long-term sales and marketing plans with proven tactics for all revenue areas including corporate, leisure, and transient business.

About The Buckingham Hotel
The Buckingham Hotel is a stylish business hotel located in the heart of Manhattan at 57th Street and 6th Avenue in New York City.  It offers studio and one-bedroom suites perfect for short and extended stay business as well as leisure travelers.  At the cultural center of the city, The Buckingham is within walking distance of many of the popular New York sites including the Museum of Modern Art, Carnegie Hall, Lincoln Center, Rockefeller Center, Madison Avenue, and the Broadway Theater district.  For more information, call 212-246-1500 or visit www.buckinghamhotel.com.

About PS Hospitality
Alexandria, VA-based PS Hospitality drives hotel revenue through a range of integrated sales, marketing, and training services for hotel operations of all sizes. Our services are custom designed for each hotel to increase revenue and market penetration while reducing operational costs.  PS Hospitality offers Sales & Marketing, Revenue Generation and Optimization, GDS Reservations and Internet Marketing, Guest Loyalty, and Training services.  We provide hotels with winning strategies and practical hands-on tools for sales, marketing, and customer service that empower operators to achieve top performance. The result is a motivated team, increased productivity and occupancy, and overall revenue maximization and profitability. For more information on PS Hospitality, email [email protected], visit www.pshospitality.com, or call 703-229-4048.

* Statistics provided by NYC & Company, the New York Convention & Visitors Bureau.  Visit www.visitnyc.com.